31 Jan '17, 5pm

NH Legislators Seek Money Transmission Exemption for Bitcoin Startups

NH Legislators Seek Money Transmission Exemption for Bitcoin Startups

Legislators in New Hampshire have filed a new bill that aims to clarify rules around digital currencies and money transmitters. HB 436 , filed on 12th January, seeks to add a formal definition for "virtual currency" to the state’s laws, as well as create an exception from money transmission requirements for "persons conducting business using transactions conducted in whole or in part in virtual currency". The bill would also add a clause to the definition of a digital currency money transmitter, a designation which, if passed, would include "maintaining control of virtual currency on behalf of others". That said, the proposal isn't exactly cut-and-dry. The bill does not specify which kinds of "business" would be covered, potentially leaving a gap within which sellers might fall. The measure appears to be a response to state regulation, which became official last year , tha...

Full article: http://www.coindesk.com/nh-money-transmission-exemption-b...

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